LIC to invest Rs. 80.67 crore in rights issue of its Nepal arm

LIC will invest Rs 80.67 crore in the proposed rights issue of its joint venture LIC (Nepal) Ltd.

The proposal was approved during the insurer’s board meeting.

”Approval has been accorded for investing in the proposed rights issue of LIC (Nepal) Ltd worth NPR 127.07 cr (INR 80.67 Crore) approximately subject to the prevalent exchange rate for infusing capital in LIC (Nepal) Ltd,” it said.